Tag #Automotive Industry

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forbes.com

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May 7, 13:17

Polytron Enters Indonesia's EV Market with New SUVs

Indonesian home appliances maker Polytron, backed by billionaires R. Budi and Michael Hartono, launched two electric SUVs, the G3 and G3+, in partnership with Skyworth Automobile, aiming to produce 10,000 units over three years, capitalizing on Indonesia's 152% surge in EV sales in 2022.

Polytron Enters Indonesia's EV Market with New SUVs

Indonesian home appliances maker Polytron, backed by billionaires R. Budi and Michael Hartono, launched two electric SUVs, the G3 and G3+, in partnership with Skyworth Automobile, aiming to produce 10,000 units over three years, capitalizing on Indonesia's 152% surge in EV sales in 2022.

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What is the significance of Polytron's entry into Indonesia's EV market, given the existing competition and recent growth trends?

Polytron, a home appliances maker, is entering Indonesia's automotive market with two electric SUVs, the G3 and G3+, priced between $18,166 and $27,800. The company aims to produce 10,000 units over three years, partnering with Chinese EV maker Skyworth Automobile. This move capitalizes on Indonesia's surging EV demand, which saw a 152% increase in 2022.

repubblica.it

🌐 75% Global Worthiness

May 7, 13:17

Renault 4 E-Tech Electric: Retro Design Meets Modern Electric Power

Renault launched the all-electric Renault 4 E-Tech Electric crossover in June, priced from €29,900, offering two power outputs (120 and 150 hp), two battery sizes (40 and 52 kWh) with ranges up to 408 kilometers, and three trims, sharing its platform with the Renault 5 E-Tech Electric.

Renault 4 E-Tech Electric: Retro Design Meets Modern Electric Power

Renault launched the all-electric Renault 4 E-Tech Electric crossover in June, priced from €29,900, offering two power outputs (120 and 150 hp), two battery sizes (40 and 52 kWh) with ranges up to 408 kilometers, and three trims, sharing its platform with the Renault 5 E-Tech Electric.

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What are the key specifications and pricing of the new Renault 4 E-Tech Electric, and what is its immediate market impact?

The new Renault 4 E-Tech Electric, launched in June, is an all-electric crossover priced from €29,900. It offers two power outputs (120 and 150 hp), two battery sizes (40 and 52 kWh) with ranges up to 308 and 408 kilometers, respectively, and three trims. A convertible version is coming later this year.

tr.euronews.com

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May 6, 16:15

Ford Projects $1.5 Billion Loss from Tariffs, Withdraws Forecast

Ford expects a $1.5 billion pre-tax profit reduction this year due to tariffs, withdrawing its full-year financial forecast due to uncertainty from the Trump administration's trade policies; this contrasts with General Motors' projection of a potential €4.4 billion impact by 2025.

Ford Projects $1.5 Billion Loss from Tariffs, Withdraws Forecast

Ford expects a $1.5 billion pre-tax profit reduction this year due to tariffs, withdrawing its full-year financial forecast due to uncertainty from the Trump administration's trade policies; this contrasts with General Motors' projection of a potential €4.4 billion impact by 2025.

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How do varying levels of US-based production affect the impact of tariffs on different automakers?

Ford's lower projected impact (€1.5B vs GM's potential €4.4B) stems from higher US-based production compared to competitors. However, even Ford anticipates significant consequences, revising its initial profit forecast and suspending full-year guidance.

welt.de

🌐 75% Global Worthiness

May 5, 16:13

Ford Cologne Job Cuts Spur Union Membership Surge, Strike Looms

Ford's Cologne plant faces 2,900 job cuts by 2027, prompting a 10% membership surge in the IG Metall union, which is demanding high severance pay and financial protection due to a withdrawn US parent company guarantee; a strike is possible.

Ford Cologne Job Cuts Spur Union Membership Surge, Strike Looms

Ford's Cologne plant faces 2,900 job cuts by 2027, prompting a 10% membership surge in the IG Metall union, which is demanding high severance pay and financial protection due to a withdrawn US parent company guarantee; a strike is possible.

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How does the withdrawal of the US parent company's guarantee affect the union's negotiating position and demands?

The increased union membership at Ford Cologne directly reflects employee concern over planned job cuts. The high organization rate and demand for substantial severance packages highlight the union's strength and the employees' vulnerability given the withdrawn US parent company guarantee and slow electric vehicle sales, despite a significant investment in production.

bbc.com

🌐 85% Global Worthiness

May 3, 10:12

US Car Part Tariffs: Immediate Impact and Uncertain Future

A 25% US import tax on car parts has taken effect, increasing costs for businesses and potentially consumers, although sales remain robust. The tax aims to boost domestic manufacturing, but its long-term effects remain uncertain, amid ongoing trade negotiations and policy adjustments.

US Car Part Tariffs: Immediate Impact and Uncertain Future

A 25% US import tax on car parts has taken effect, increasing costs for businesses and potentially consumers, although sales remain robust. The tax aims to boost domestic manufacturing, but its long-term effects remain uncertain, amid ongoing trade negotiations and policy adjustments.

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What are the immediate economic consequences of the 25% US import tax on car parts, and how will this impact consumers?

The US imposed a 25% import tax on car parts, impacting the auto industry significantly. This follows an earlier 25% tax on imported cars, leading to higher costs for businesses and consumers, although initial sales remain strong. General Motors anticipates $5 billion in added costs this year due to these tariffs.

cincodias.elpais.com

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May 2, 10:12

Trump's Tariffs Force European Automakers to Withdraw Forecasts

Erratic US trade policies under Donald Trump are forcing major European automakers like Mercedes-Benz and Stellantis to withdraw their financial forecasts for 2025 due to unpredictable 25% tariffs on imported cars, impacting supply chains, production, and investment strategies.

Trump's Tariffs Force European Automakers to Withdraw Forecasts

Erratic US trade policies under Donald Trump are forcing major European automakers like Mercedes-Benz and Stellantis to withdraw their financial forecasts for 2025 due to unpredictable 25% tariffs on imported cars, impacting supply chains, production, and investment strategies.

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What is the immediate impact of Donald Trump's fluctuating automobile tariffs on major European auto manufacturers?

The erratic trade policies of Donald Trump are causing major European automakers to withdraw their financial forecasts. The 25% tariffs on imported cars, initially imposed in April and then partially retroactively eased, create uncertainty. This impacts companies like Mercedes-Benz and Stellantis, who cited the tariffs as the reason for withdrawing their predictions.

english.kyodonews.net

🌐 75% Global Worthiness

May 7, 16:14

Mitsubishi Partners with Foxconn for EV Production, Signaling Shift in Japanese Auto Industry

Mitsubishi Motors announced a deal with Foxconn to launch EVs in Australia and New Zealand in late 2024, manufactured in Taiwan by Yulon Motor, marking a notable shift for the traditionally insular Japanese auto industry and setting up a potential future impact on collaborations in EV manufacturing ...

Mitsubishi Partners with Foxconn for EV Production, Signaling Shift in Japanese Auto Industry

Mitsubishi Motors announced a deal with Foxconn to launch EVs in Australia and New Zealand in late 2024, manufactured in Taiwan by Yulon Motor, marking a notable shift for the traditionally insular Japanese auto industry and setting up a potential future impact on collaborations in EV manufacturing ...

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What is the significance of Mitsubishi Motors' partnership with Foxconn for the Japanese automotive industry?

Mitsubishi Motors will launch electric vehicles (EVs) in Australia and New Zealand by the second half of 2024, manufactured by Foxconn's Foxtron Vehicle Technologies in Taiwan. This marks a significant departure for the Japanese auto industry, traditionally resistant to outsourcing manufacturing outside the traditional sector. Further, Mitsubishi will introduce new EVs in North America by late 2026, supplied by Nissan.

lefigaro.fr

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May 7, 13:17

Montebourg Urges Increased Industrial Protectionism for France

Former French Economy Minister Arnaud Montebourg urged increased industrial protectionism, including state intervention, citing potential job losses in the automotive sector and advocating for a sovereign wealth fund to support French industry.

Montebourg Urges Increased Industrial Protectionism for France

Former French Economy Minister Arnaud Montebourg urged increased industrial protectionism, including state intervention, citing potential job losses in the automotive sector and advocating for a sovereign wealth fund to support French industry.

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How do Montebourg's proposals relate to broader trends in global economic policy and national industrial strategies?

Montebourg's proposal reflects a broader trend of nations prioritizing economic security and industrial independence. His call for state intervention, a sovereign wealth fund, and extended loan repayment periods (due to the difficulties faced by businesses with the PGE) highlights concerns about global competition and the need for proactive government support.

dailymail.co.uk

🌐 85% Global Worthiness

May 5, 16:13

Mercedes Shifts Production to Alabama Amid Trump Tariffs

Mercedes-Benz will move production of a core vehicle segment, likely the GLC, to its Alabama plant by 2027, in response to President Trump's 25% tariffs on imported cars; this decision follows similar responses from other automakers, highlighting the complex impact of protectionist trade policies.

Mercedes Shifts Production to Alabama Amid Trump Tariffs

Mercedes-Benz will move production of a core vehicle segment, likely the GLC, to its Alabama plant by 2027, in response to President Trump's 25% tariffs on imported cars; this decision follows similar responses from other automakers, highlighting the complex impact of protectionist trade policies.

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How are other automakers responding to the tariffs, and what are the broader economic consequences?

The shifting of Mercedes-Benz production to Alabama reflects the complex impact of President Trump's protectionist trade policies on the automotive industry. While intended to stimulate US manufacturing, the tariffs have resulted in varied responses from automakers, including production shifts, price increases, and job losses. Mercedes's decision, while potentially benefiting Alabama, may also lead to decreased production of other models and exports.

smh.com.au

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May 4, 07:15

Bezos-Backed EV Startup Targets Tesla with US$20,000 Electric Ute

Slate Auto, an Amazon-backed electric vehicle startup, plans to launch a US$20,000 electric ute in 2024, offering a customizable base model with optional upgrades and accessories to compete with Tesla and other high-priced EVs.

Bezos-Backed EV Startup Targets Tesla with US$20,000 Electric Ute

Slate Auto, an Amazon-backed electric vehicle startup, plans to launch a US$20,000 electric ute in 2024, offering a customizable base model with optional upgrades and accessories to compete with Tesla and other high-priced EVs.

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What is the primary competitive advantage of Slate Auto's electric ute, and what immediate market impact is it expected to have?

Slate Auto, a US automotive startup backed by Jeff Bezos, aims to disrupt the EV market with a low-cost, customizable electric ute starting at US\$20,000 (excluding taxes and potential federal incentives). The company plans to produce around 100,000 vehicles annually, offering an alternative to high-priced competitors like Tesla.

dailymail.co.uk

🌐 85% Global Worthiness

May 3, 16:12

JLR Resumes US Car Shipments Despite 25% Tariff

Jaguar Land Rover recommenced shipping cars to the US on Wednesday after a temporary pause due to President Trump's 25% import tariff on foreign vehicles, despite this likely leading to significantly higher prices for American customers.

JLR Resumes US Car Shipments Despite 25% Tariff

Jaguar Land Rover recommenced shipping cars to the US on Wednesday after a temporary pause due to President Trump's 25% import tariff on foreign vehicles, despite this likely leading to significantly higher prices for American customers.

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How does JLR's reliance on US exports affect its vulnerability to trade policy changes compared to competitors?

JLR's resumption of US shipments, despite the tariffs, suggests a strategic acceptance of increased costs to maintain market share. This decision contrasts with potential job losses expressed by UK factory staff concerned about the tariff's impact on exports, which account for over 77% of British car production. The US is JLR's largest export market.

forbes.com

🌐 85% Global Worthiness

May 1, 22:14

Modified Auto Tariffs: Billions in Costs Remain for Industry and Consumers

Despite a purported reprieve, the auto industry faces billions in tariffs and higher consumer prices due to President Trump's modified import tariff policy; a 25% tariff on imported vehicles remains, although an offset mechanism is available for U.S.-assembled vehicles meeting specific content requi...

Modified Auto Tariffs: Billions in Costs Remain for Industry and Consumers

Despite a purported reprieve, the auto industry faces billions in tariffs and higher consumer prices due to President Trump's modified import tariff policy; a 25% tariff on imported vehicles remains, although an offset mechanism is available for U.S.-assembled vehicles meeting specific content requi...

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What are the immediate financial consequences for the auto industry and consumers resulting from the modified import tariffs?

President Trump's recent actions, while presented as a reprieve from auto import tariffs, will still cost the auto industry billions and likely increase consumer prices. GM, for example, expects a $4-5 billion impact, revising its 2025 financial guidance downward by $8.2 billion. This includes $2 billion from Korean vehicle imports alone.

Showing 85 to 96 of 564 results